SICO reports net profit of BD 2.3 million for the first nine months of 2015

Manama, Bahrain – 10 November 2015: Securities & Investment Company (SICO), licensed by the Central Bank of Bahrain as a conventional wholesale bank, announced today its financial results for the third quarter of 2015 and the first nine months of the year.

Net profit for the nine months ended 30 September 2015 was BD 2.3 million compared with BD 6.8 million for the corresponding period in 2014, a decrease of 66 per cent mainly due to the volatility in regional and global markets, impacting in particular SICO’s proprietary book performance during the third quarter this year compared to the markets strong performance for the same period of last year. Total income was BD 6.7 million versus BD 11.7 million for the first nine months of the previous year, around 42 per cent lower. Basic earnings per share stood at Bahraini 5.3 fils (net of Bahraini 9 fils per share dividends distributed earlier this year) versus 15.8 fils for the first nine months of 2014.